Octavia Wealth Advisors LLC Purchases 6,215 Shares of W&T Offshore, Inc. (NYSE:WTI)

Octavia Wealth Advisors LLC grew its position in shares of W&T Offshore, Inc. (NYSE:WTI) by 51.4% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 18,315 shares of the oil and gas company’s stock after purchasing an additional 6,215 shares during the quarter. Octavia Wealth Advisors LLC’s holdings in W&T Offshore were worth $60,000 as of its most recent SEC filing.

Several other hedge funds have also recently added to or reduced their stakes in WTI. Point72 Hong Kong Ltd acquired a new stake in shares of W&T Offshore during the 1st quarter worth approximately $33,000. Walleye Capital LLC acquired a new stake in shares of W&T Offshore during the 2nd quarter worth approximately $43,000. PEAK6 Investments LLC acquired a new stake in shares of W&T Offshore during the 1st quarter worth approximately $45,000. Tower Research Capital LLC TRC grew its position in shares of W&T Offshore by 243.3% during the 3rd quarter. Tower Research Capital LLC TRC now owns 10,663 shares of the oil and gas company’s stock worth $47,000 after buying an additional 7,557 shares during the period. Finally, SG Americas Securities LLC acquired a new stake in shares of W&T Offshore during the 3rd quarter worth approximately $51,000. Institutional investors own 42.88% of the company’s stock.

W&T Offshore Stock Performance

NYSE WTI opened at $2.41 on Thursday. The company has a fifty day simple moving average of $2.74 and a 200 day simple moving average of $3.21. W&T Offshore, Inc. has a 12-month low of $2.41 and a 12-month high of $4.92. The company has a current ratio of 1.22, a quick ratio of 1.22 and a debt-to-equity ratio of 11.58. The company has a market cap of $353.93 million, a P/E ratio of 24.10 and a beta of 1.52.

W&T Offshore (NYSE:WTI) last posted its quarterly earnings results on Tuesday, March 5th. The oil and gas company reported ($0.06) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.02 by ($0.08). W&T Offshore had a net margin of 2.93% and a negative return on equity of 71.70%. The business had revenue of $132.30 million during the quarter, compared to analyst estimates of $138.23 million. During the same period in the previous year, the business posted $0.10 EPS. The business’s revenue for the quarter was down 30.3% compared to the same quarter last year. Sell-side analysts predict that W&T Offshore, Inc. will post -0.05 earnings per share for the current fiscal year.

W&T Offshore Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, March 25th. Shareholders of record on Monday, March 18th were issued a dividend of $0.01 per share. This represents a $0.04 dividend on an annualized basis and a yield of 1.66%. The ex-dividend date was Friday, March 15th. W&T Offshore’s dividend payout ratio is 40.00%.

Wall Street Analysts Forecast Growth

Separately, Stifel Nicolaus raised their price objective on shares of W&T Offshore from $7.60 to $7.90 and gave the stock a “buy” rating in a research report on Tuesday, January 23rd.

W&T Offshore Profile

W&T Offshore, Inc, an independent oil and natural gas producer, engages in the acquisition, exploration, and development of oil and natural gas properties in the Gulf of Mexico. The company sells crude oil and condensate, natural gas liquids, and natural gas. W&T Offshore, Inc was founded in 1983 and is headquartered in Houston, Texas.